How a German pharmacist's apothecary became a Philippine conglomerate

Food & Drink · Published 9 October 2026 Swipe more like this →

In short: In 1834, Johannes Andreas Zóbel arrived in Manila from Hamburg to run an apothecary. Fast forward through political imprisonment, steam-powered trams, and strategic wartime investments, and his descendants would build one of the world's richest families and the Philippines' largest conglomerate.

The Zóbel de Ayala dynasty began with Botica Zóbel, an apothecary established in 1834 by Johannes Andreas Zóbel on Calle Real 28 in Intramuros. His son, Jácobo Zangroniz Zóbel (1842–1896), would expand the family's influence significantly. A polymath who mastered eleven languages, Jácobo was a scholar of natural sciences and numismatics, even publishing a classic monograph on Libyan-Phoenician coins that remains used in Spanish universities today.

The family's economic power grew through strategic partnerships, most notably the 1876 establishment of Ayala y Compañía, which evolved from the 1834 Casa Róxas partnership between Domingo Ureta Roxas and Antonio de Ayala. Jácobo was a man of progress, introducing Manila's first steam-powered tram system in 1885 and building the Ayala Bridge. However, his liberal views once led to his imprisonment in Fort Santiago in 1874 on charges of sedition.

The family's modern wealth was largely secured by the astuteness of Trinidad Roxas de Ayala (1856–1918). After her spouse passed away in 1896, she sold different holdings and moved her wealth into liquid investments, such as commerce and hotels, which thrived post-World War I and the Philippine-American War. She also provided financing for the Carriedo waterworks, which served as Manila's inaugural public water utility.

Today, the family controls Ayala Corporation, the Philippines' largest and oldest conglomerate. Through their holding company, Mermac, Inc., they maintain a controlling stake in a massive enterprise that includes the Bank of the Philippine Islands and Globe Telecom. The family's influence remains vast, with members appearing on Forbes' lists of the world's richest families.

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